40 Lake Street, Cooperstown

$2,400,000

5 Beds
4½ Baths
5,063 Sqft
2¼ Acres
2 Garages

Averell Cottage is truly a one of a kind historic lakefront property. Built in 1793 for James Averell II who purchased the property, a tannery, in 1792 from John Howard who in turn had acquired it from William Cooper, the founder of Cooperstown and the father of the famous author James Fenimore Cooper. In 1786, funded by his success as a merchant, William Cooper bought 67,000-acres of land in central New York that would constitute Otsego County. By 1790, he had chosen the site on which he would lay out the county capital, Cooperstown. This Vintage property sits on over two and a quarter acres with an expansive lawn leading to 225 feet of direct frontage on Otsego Lake. Only one block from Main Street this residence has the largest lakeside footprint of any other private home in the village and is just 3 doors down from the famous Otesaga Resort and Leatherstocking Golf Course. Featuring 5,000 square feet of living space including a separate ground floor one bedroom suite, four bedrooms including two en suite, ten-foot ceilings, cherry hardwood floors, a formal parlor, a butler’s pantry and floor to ceiling sliding doors leading to a 42 foot rear deck facing the lake. The first floor layout is ideal for entertaining with over 3000 square feet of space. Otsego Lake is approximately 9 miles in length totaling over 4000 acres. From its southern edge at Council Rock Park is the source of the Susquehanna River which flows south over 400 miles to the Chesapeake Bay. Cooperstown is best known for the National Baseball Hall of Fame and Museum. The Glimmerglass Opera Festival offers various musical performances. Other destinations are the historic Hyde Hall, Glimmerglass State Park, the Fenimore Art Museum and Farmers Museum as well. This offering presents a unique opportunity to acquire one of the most prestigious and historic homes in America.

Property History
Price Reduced from $2,700,000 to $2,400,000
LISTING MAP

Mortage Calculator

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

Purchase & Financing Information